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Fixing California: A fix for the financial hole that just gets deeper

posted Oct 24, 2013, 9:26 AM by Gary Jones

Contributions to CalSTRS by teachers, districts and the state have been barely more than half the required level for years. Its official unfunded liability has topped $70 billion and some independent analysts believe the real liability could be double that. At the current rate of underfunding, Howle says, the system will be flat broke in 30 years.